Significant call writing seen at 12,300 strike price
The Nifty December 2019 futures were at 12,276.85, a premium of 10.70 points compared with the Nifty's closing of 12,266.15 in the cash market.
In the cash market, the Nifty 50 index fell 5.65 points or 0.05% to 12,266.15
Turnover on the National Stock Exchange's futures & options (F&O) segment was Rs 10.07 lakh crore compared with Rs 7.32 lakh crore reported in the previous session.
The NSE's India VIX, a gauge of market's expectation of volatility over the near term, tumbled 4.21% to 11.085. A decline in volatility indicates stability in benchmark index.
On the options front, the Nifty option chain for 26 December 2019 expiry showed maximum call open interest (OI) of 31.47 lakh contracts at the 12,300 strike price. Significant call writing was witnessed at 12,300 strike price, which added 6.79 lakh contracts. Call unwinding was seen at the 12,100 strike price, which shed 1.2 lakh contracts.
Maximum put OI of 39 lakh contracts was seen at 12,000 strike price. Significant put writing was seen at the 12,250 strike price, which added 4.39 lakh contracts. Put unwinding was seen at 11,900 strike price, which shed 4.28 lakh contracts.
The option chain indicates that Nifty will stay between 12,000 and 12,300 in December expiry. The December 2019 F&O contracts expire on Thursday, 26 December 2019.
Reliance Industries (RIL), ICICI Bank and State Bank of India (SBI) were the top traded individual stock futures contracts in F&O segment of NSE.
RIL December 2019 futures were at 1,573.35, compared with spot closing price of 1570.95. ICICI Bank December 2019 futures were at 541.90 compared with spot closing price of 541.15. SBI December 2019 futures were at 333.40, compared with spot closing price of 332.40.
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